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Drew Brees signs!

 
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Canadian Saint


Joined: 02 Mar 2010
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PostPosted: Fri Jul 13, 2012 1:50 pm    Post subject: Drew Brees signs! Reply with quote

Thought this deserved it's own thread. I know we have a super busy forum, but I think we can make an exception.

Per Mort:

100M for 5 years. 40M in the first year. 60M over the first 3 years of the deal.

Saints radio was saying 30M signing bonus and 10M salary.

Great to have our starting QB back!
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Harper41


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PostPosted: Fri Jul 13, 2012 1:52 pm    Post subject: Reply with quote

Looks like well be making runs at free agents in years 2 and 3. Only reason i think they'd give him 40M in year one and then 10M the next two years
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MikeT14


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PostPosted: Fri Jul 13, 2012 1:52 pm    Post subject: Reply with quote

whew, a silver lining for you guys. I'm glad he's back (officially) with you all.
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Canadian Saint


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PostPosted: Fri Jul 13, 2012 1:57 pm    Post subject: Reply with quote

Harper41 wrote:
Looks like well be making runs at free agents in years 2 and 3. Only reason i think they'd give him 40M in year one and then 10M the next two years


I think it's more cap flexibility.

If it's true that 30M is the signing bonus, then it spreads out that cap hit over the term of the contract.

So 30/5 = 6M cap hit every year of the deal.

His salary is said to be 10M/yr. So his yearly cap hit is 16M/yr. It gives us an ok amount of flexibility, instead of having a 20M cap hit or something.

Yeah we give him 40M in year one, but it only counts towards 16M against the cap. Something which is more important than the total money.
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Canadian Saint


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PostPosted: Fri Jul 13, 2012 3:13 pm    Post subject: Reply with quote

Cap details:

http://profootballtalk.nbcsports.com/2012/07/13/brees-gets-37-million-to-sign/

Cap hits:

2012: 10.7
2013: 17.4
2014: 18.4
2015: 26.4
2016: 27.4

Release details:

Quote:
The $40 million paid in 2012 is fully guaranteed. For now, $20 million beyond 2012 is guaranteed for injury only. Next year, on the third day of the waiver period (typically, the third day after the Super Bowl), $15 million of the injury guarantee becomes fully guaranteed. The extra $5 million remains guaranteed for injury only.

In 2015, again on the third day of the waiver period, more than half of his $19 million base salary becomes fully guaranteed. Ditto for 2016; on the third day of the waiver period, more than half of the $20 million base salary becomes fully guaranteed.


We gained cap space this season.
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scar988


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PostPosted: Fri Jul 13, 2012 3:16 pm    Post subject: Reply with quote

Canadian Saint wrote:
Cap details:

http://profootballtalk.nbcsports.com/2012/07/13/brees-gets-37-million-to-sign/

Cap hits:

2012: 10.7
2013: 17.4
2014: 18.4
2015: 26.4
2016: 27.4

Release details:

Quote:
The $40 million paid in 2012 is fully guaranteed. For now, $20 million beyond 2012 is guaranteed for injury only. Next year, on the third day of the waiver period (typically, the third day after the Super Bowl), $15 million of the injury guarantee becomes fully guaranteed. The extra $5 million remains guaranteed for injury only.

In 2015, again on the third day of the waiver period, more than half of his $19 million base salary becomes fully guaranteed. Ditto for 2016; on the third day of the waiver period, more than half of the $20 million base salary becomes fully guaranteed.


We gained cap space this season.


Brees also helped y'all out because if he retires after year 3 of this deal, y'all paid him $60M and only had 36 hit the cap.
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QB Connoisseur


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PostPosted: Fri Jul 13, 2012 3:20 pm    Post subject: Reply with quote

FINALLY Cool
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Canadian Saint


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PostPosted: Fri Jul 13, 2012 3:37 pm    Post subject: Reply with quote

scar988 wrote:


Brees also helped y'all out because if he retires after year 3 of this deal, y'all paid him $60M and only had 36 hit the cap.


He could also restructure in the last two years couldn't he? So if he is playing at a high level in those last two years, he could give us a more friendly term. If at worst he's not, then we got a nice contract for 3 years of the deal.

Happy with the contract Loomis got us.
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scar988


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PostPosted: Fri Jul 13, 2012 4:17 pm    Post subject: Reply with quote

Canadian Saint wrote:
scar988 wrote:


Brees also helped y'all out because if he retires after year 3 of this deal, y'all paid him $60M and only had 36 hit the cap.


He could also restructure in the last two years couldn't he? So if he is playing at a high level in those last two years, he could give us a more friendly term. If at worst he's not, then we got a nice contract for 3 years of the deal.

Happy with the contract Loomis got us.
and he's happy with it too because he just got paid.
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tylerdouglass


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PostPosted: Fri Jul 13, 2012 6:20 pm    Post subject: Reply with quote

I like the contract.
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tylerdouglass


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PostPosted: Fri Jul 13, 2012 6:23 pm    Post subject: Re: Drew Brees signs! Reply with quote

Canadian Saint wrote:
Thought this deserved it's own thread.


Laughing

ya think?!
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jcvoodoo


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PostPosted: Sat Jul 14, 2012 1:29 am    Post subject: Reply with quote

Loomis for GM of the year!
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GBPACKMAN4LIFE


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PostPosted: Sat Jul 14, 2012 3:37 pm    Post subject: Reply with quote

jcvoodoo wrote:
Loomis for GM of the year!


Has a GM who's been suspended for parts of the year ever won executive of the year?

Laughing
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sammymvpknight


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PostPosted: Sat Jul 14, 2012 10:12 pm    Post subject: Reply with quote

GBPACKMAN4LIFE wrote:
jcvoodoo wrote:
Loomis for GM of the year!


Has a GM who's been suspended for parts of the year ever won executive of the year?

Laughing


Has a GM ever been suspended? The Saints have had an unreal offseason...both in the good and bad variety.
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